During a recent workshop, the FCA commented on SM&CR training. They do not believe that some e-learning or short generic training meets their requirements.
We believe that this is primarily a reference to the need for all staff to understand the intention of the SM&CR to move firms to a culture of accountability at all levels. Accordingly, Conduct Rules training should include the opportunity for individuals to identify how these apply to their own organisation and, in particular, to their role within the organisation.
Questions, questions…
Paul Jay Compliance 2023, FCA, Periodic Review, PI, platform, training, vulnerable, Xplan
As a result of firms needing to implement Consumer Duty this year (and many still don’t appear to have their act together yet), there hasn’t been much output from the regulator in the latter half of 2023. That has changed. In recent weeks the FCA seems to have issued more paper than confetti at a […]